BOXT Lite-paper

BOXT utility and Benefits

Digital asset / crypto investors should have the freedom to choose a platform that suits their needs. Our expansion strategy is built on becoming the platform of choice for investors in the exciting NFT space. As we grow our NFT ecosystem with new products and services, BOXT will provide numerous benefits to its holders and continually enhance its utility including:

• Staking rewards on BOXT deposits on our exchange
• The BOXT Token can be utilized to reduce exchange trading fees
• Early access to new products as well as priority access to participation inIGOs (initial game offerings) and NFT launches

Token Allocation Plan

BOXT will be ERC20 standard with a maximum supply of 500 million tokens, minted once upon inception and vested over a period of up to four years. The token will be spent to reward our users and grow the BOXT ecosystem with new partners and products:

• Airdrop launch 10%
• Employee & Advisory incentive 15%
• Product & Liquidity & Sale 15%
• Ecosystem Growth 50%
• Long-term reserve 10%
  

Incentive Plan

Trading Fee Discount

Fee Rate Discount by owning BOXT tokens and BOXT tokens can be used to offset trading fees, this feature will be enabled after phase two.

BOXT Token Used for Withdrawal Fee deduction

When a user withdraws the coin or token, the BOXT Token can be used for a withdrawal fee deduction that is correlated to the current BOXT price. This feature will be enabled after phase two.

NFT Marketplace Incentive

BOXVERSE NFT marketplace incentive calculation: Weight Value = [ Sell price (USD) * seller weight + final price (USD) * buyer weight]. The score value of each NFT item = (Weight * NFT number), the score value needs to be greater than a threshold value (for example:50) in order to meet incentive requirements. Each successful transaction can receive up to 5 BOXT tokens. Also, the buyer and seller need to pass KYC verification in order to get incentive tokens, and the token amount will be shared between seller and buyer based on seller weight and buyer weight value (Appendix A). Capped at 10,000 BOXT tokens per user a month.

Note:

BOXTradEx may periodically monitor the transaction and suspend the account for abnormal transactions or account collusion not in the interest of the BOXT Token ecosystem, such as trading the same NFT item back and forth between group of users.

Note:

BOXTradEx reserves the right to suspend, vary or terminate the above offers at any time and amend the terms and conditions therefor from time to time. In the case of any disputes, BOXTradEx reserves the right of final decision.

Time Line Phase 1 : Early Q2 2022

Trade on our platform and earn BOXT airdrops — earn BOXT by trading NFTs. BOXT tokens can be earned by new and existing users and distributed to your BOXTradEx account — the more you trade, the more you earn! BOXT tokens cannot be withdrawn or traded during phase 1

Phase 2 : Late Q2 2022

BOXT token will become tradable on the exchange as well as on partner venues. Token holders are free to withdraw / deposit / trade at that point.

Legal Disclaimer

This Lite paper is provided for your information only and does not constitute investment advice. It should also not be construed as an offer, solicitation or invitation to earn or purchase (when available) BOXT Tokens. Unless otherwise stated, capitalized terms used here have the same meanings ascribed to them in the Terms of Service. Under no circumstances should BOXT Tokens be considered an investment. If you purchase BOXT Tokens for whatever reason, neither HDR Global Trading Limited nor the Group is liable for any refunds or exchanges for your purchase. The prices of tokens can be highly volatile. You are recommended to consult legal, financial, tax and other professional advisers or experts for further guidance before you decide to earn or purchase BOXT Tokens.

BOXT Tokens are functional utility tokens designed for use on BOXTradex application and website only.

BOXT Tokens are not shares, bonds, units in a collective investment scheme, securities, or other instruments commonly known as securities of any type.

BOXT Tokens do not in any way represent any shareholding, participation, right, or title in BOXTradEx, their respective affiliates, or any other company, enterprise or undertaking.

BOXT does not entitle holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities.

BOXT Tokens are merely a means by which you may be able to utilize certain services or features on the BOXTRADEX platform. BOXT Tokens do not entitle you to any equity, governance, voting or similar right or interest in HDR Global Trading Limited, the Group or in any of its Affiliates.

BOXT Tokens are not being offered to US Persons and are not available in the United States, sanctioned jurisdictions or in other jurisdictions as may be specified by BOXTRADEX from time to time. If you are located in, incorporated or otherwise established in, or a resident of the United States, you are not permitted to transact in BOXT Tokens. In addition, certain benefits and features associated with BOXT Tokens may not be available in certain jurisdictions.

Appendix A

Weighted Value is a parameter to determine the authenticity and quality of NFT transactions, in order to reward BOXT tokens to real NFT traders while preventing fraudulent traders from earning token rewards by making fake transactions.

There are 2 main ways to conduct NFT transactions — by retail and by auction. Actually, 50% of the BOXT tokens are designed to reward buyers and sellers for NFT transactions.

By retail, a seller sells an NFT for $10, a buyer gets it for $10. The platform rewards both the buyer and the seller for the transaction volume they contribute to the ecosystem.

However, in auction, an NFT with base price $1 might be sold for $10 eventually, so there is a possibility that a fraudulent trader manipulates sell and buy. For example, he can sell the NFT to himself for a much higher price through multiple accounts to increase the transaction volume and leverage more token rewards. Such fake transactions are unhealthy to the sustainability of BOXT ecosystem and will dampen the value of BOXT token.

That’s why we define the Weighted Value of a traded NFT by introducing 2 coefficients x & y.

Assume x=0.5 and y=0.5, the base price of an NFT=1 and its final price=10,

Then the Weighted Value = 1*0.5 + 10*0.5 = 5.5

For a specific game item minted for 10 NFTs, each NFT should be traded at similar Weighted Value. So the aggregate Weighted Value = 5.5*10 = 55.

In this case, we can take 55 as a benchmark for other similar game items. If the aggregate weighted value for the item is larger than 55, then we believe the transactions are likely to be real and therefore release the BOXT incentives to the trading parties. In the opposite case, If the aggregate weighted value for the item is less than 55, then some of the transactions are likely to be manipulated and thus we might decide to withhold BOXT incentives.

Note the 2 coefficients x & y are variables, subject to the data model generated from our business operations. We can determine them later and adjust them accordingly when needed.